Mortgage companies accused of fraud, returned approximately $21 million to North Carolina consumers recently. 4 large mortgage companies — WR Starkey Mortgage, Beazer Mortgage, Vanderbilt Mortgage and Countrywide Homes — are accused of utilizing inaccurate information to obtain loans for consumers or working with home dealers to inflate the prices of homes. The Commissioner of [...]
New data suggests that mortgage fraud – which got tougher to scam consumers after the collapse of the U.S. real estate market is returning in a big way. Data prepared for The Wall Street Journal by research firm CoreLogic, examining about seven million home loans made by hundreds of lenders, show that losses from mortgage [...]
Lee Bentley Farkas, the former chairman of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), was arrested last night in Ocala, Fla., and charged in a 16-count indictment for his alleged role in a more than $1.9 billion fraud scheme that contributed to the failures of Colonial Bank, one of the 50 largest [...]
Six people have been indicted on federal charges involving an alleged $3.5 million mortgage fraud scheme while working for the Lighthouse Financial Group in the Portland metro area. Joel Rosabal and Chad Amsden, both 31, were named in the first of two indictments, while the second indictment listed Amsden, Timothy Hills, 30, Misti Wallis, 32, [...]
13 people, including a former loan officer with Park Mortgage Group Inc., were charged earlier this week with conspiracy to commit wire fraud in connection with a mortgage fraud scheme. Federal prosecutors said Kimberly Wilson, 37, of Shaker Heights, who was employed by Park Mortgage at the time of the offenses, recruited straw buyers to [...]
FRAUD ALLEGED AT FALLEN MORTGAGE TITAN: Senate investigators say they have found widespread fraud in the mortgage lending operations of Washington Mutual, the biggest U.S. bank on record to fail. FAILURE TO ACT: WaMu’s management failed to stem the fraudulent practices despite internal probes by the bank, according to the new report by the investigative [...]
The owners of a defunct mortgage lender and a servicing company in New Hampshire have been indicted on federal fraud charges. A grand jury has indicted Scott Farah, owner of Financial Resources Mortgage in Meredith, on charges of mail fraud and wire fraud. Donald Dodge, who ran the associated servicing company CL&M, was indicted on [...]
5 people pleaded guilt in federal court Thursday for their part in a homebuilder mortgage fraud scheme that involved false loan applications, kickbacks and duping investors. Twin brothers Anthony B. Grant and Antonio B. Grant, 43, both of Simpsonville, and their business partner Michael D. Holmes, 37, of Lawrenceville, Ga., pleaded guilty to conspiracy to [...]
Newly charged in the case are attorney Joseph Miller, 63 of Palm Beach Gardens, FL, Peter Hartofilis, 33, of Flushing, NY, Robert Hofler, 52, of Pembroke Pines, FL, and Steve Vento, 41, of Jupiter, FL. All of the defendants are charged with conspiring to commit mail and wire fraud by submitting false mortgage loan applications [...]
The Florida Office of Financial Regulation (OFR) issued and served an Immediate Final Order to Cease and Desist all mortgage loan modification services to: • Clear Image Financial Group, Inc., 5910 Benjamin Center Drive, Suite 110, Tampa, FL 33634 and its principals Jeff S. Stampfli, Christopher Jones, and Tasha Armstrong Merkling. The orders charge that [...]
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